There many digital currencies around the world. Nevertheless, Bitcoin is the most expensive cryptocurrency in terms of market capitalization. As a result, crypto investors, as well as analysts, are constantly trying to analyze current trends to learn more about the cryptocurrency market.
The best result so far dates back to December 2017. At the end of that year, Bitcoin’s price was close to reaching $20,000. It is worth mentioning that until this day, Bitcoin wasn’t even close to achieving this milestone. In several months, it will be two years in December 2019 since the last time when Bitcoin surpassed $19,000.
Analysts from various companies, as well as crypto owners, have different ideas about the future of Bitcoin. It is hard to say when Bitcoin will come close to that level. This year Bitcoin’s price changed multiple times.
Bitcoin reached the highest level in the summer of 2019 when the price was $13,880. However, for the last several months, Bitcoin’s price tried to stay above $10,000.
Let’s compare the best result of 2019 to the price at the beginning of October. We will find out that Bitcoin’s price fell by 40% as of October 2.
Nevertheless, some people say that Bitcoin’s price may reach $20,000 by the end of 2019. One of them is Sean Barger managing director of CPUcoin. He said that price would reach $20,000 due to favorable conditions, and these factors will boost the price of Bitcoin.
Another person who shares this idea is Tomas Salles, a financial writer at FXStreet. He believes that Bitcoin’s price will reach this level by the end of 2019.
Switzerland and the cryptocurrency market
Mark Bronson is the head of the Swiss Financial Market Advisory. He made a comment regarding the crypto regulations. Bronson said he is not worried about Libra. Libra Association has its headquarters in Switzerland. This comment may explain why Libra picked this country.
Bronson is more concerned about the digital currencies which lack any supervision. Bitcoin has less than three months to reach $20,000. However, it will be hard to replicate the success story of December 2017.